With NFL salary caps rising approximately $25 million annually, teams are locking in key players to long-term deals early. The Packers have an opportunity with Watson, who is still a year away from free agency, giving them leverage in negotiations.
Watson and Pierce are stylistically similar vertical receivers, making Pierce's upcoming contract a benchmark. If the Colts re-sign Pierce or he hits free agency, it could significantly increase what Watson commands, making now the optimal time for Green Bay to secure their young receiver long-term.